Wednesday, December 7, 2016
Options Regulatory Alert #2016 - 39
Nasdaq/ISE Announces Regulation SCI BC/DR Testing
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In an effort to bring consistency for Regulation SCI DR Participation for ISE and Nasdaq participants, ISE, ISE Gemini and ISE Mercury will adopt rules similar to PHLX Rule 926, Nasdaq Rule 1170 and BX Rule 1170 in place of the existing Rule 803, Supplementary Material .02. A rule change has been filed with the Securities and Exchange Commission. Regulation SCI requires that each SCI entity designate members/participants to take part in an annually scheduled Business Continuity and Disaster Recovery (BC/DR) Plan test. While Nasdaq encourages all Members, Member Organizations, PSX Participants and Options Participants of its markets to participate in testing, each Nasdaq exchange will designate certain Members, Member Organizations, PSX Participants, and Options Participants, as applicable, that are required to participate in the annual BC/DR plan test. ISE, ISE Gemini and ISE Mercury Rules 803, Supplementary Material .02 will be amended to mirror PHLX Rule 926, Nasdaq Rule 1170 and BX Rule 1170. The ISE markets will have standards similar to the Nasdaq markets for the designation of applicable Members that are required to participate in the annual Business Continuity and Disaster Recovery Plan test. The standards for all nine markets are as follows:
Notice will be provided to the specific Members, Member Organizations, PSX Participants and Options Participants for each market that are required to test at least six months prior to the BC/DR Plan test date to provide those Members, Member Organizations, PSX Participants, and Options Participants the necessary lead time to prepare for the required testing. |
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